Pacific Heights Asset Management LLC Purchases 1,000 Shares of Amgen Inc. (NASDAQ:AMGN)

Pacific Heights Asset Management LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,000 shares of the medical research company's stock after buying an additional 1,000 shares during the period. Amgen makes up about 1.2% of Pacific Heights Asset Management LLC's portfolio, making the stock its 18th largest position. Pacific Heights Asset Management LLC's holdings in Amgen were worth $18,381,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. KPP Advisory Services LLC raised its holdings in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of Amgen in the first quarter valued at about $1,331,000. DLK Investment Management LLC raised its holdings in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after purchasing an additional 1,387 shares during the last quarter. Aire Advisors LLC raised its holdings in shares of Amgen by 26.3% in the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after purchasing an additional 2,762 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at about $3,531,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN traded up $1.40 on Friday, reaching $298.25. 1,518,529 shares of the company's stock were exchanged, compared to its average volume of 2,842,825. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The firm has a market cap of $160.37 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a fifty day simple moving average of $282.47 and a 200-day simple moving average of $286.79.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business earned $3.96 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMGN. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada reduced their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $307.82.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.